Consumers Say It’s a Good Time to Buy

The Housing Opportunities and Market Experience (HOME) report was created to monitor consumer sentiment about the housing market. It covers core topics that will be tracked on a monthly basis such as views on housing as a good financial investment, whether homeownership is part of the American Dream, if now is a good time to buy or sell a home and perception of home price changes.

Highlights:

In the third quarter of 2017, 77 percent of people believe that now is a good time to buy a home.

Forty-eight percent believe that strongly, a increase from 43 percent in Q2 2017, and an increase from 43 percent in Q3 2016.

Seventy-eight percent of people believe that now is a good time to sell a home, up from 71 percent in Q2 2017 and a steady increase from 63 percent in Q3 2016.

Fifty-one percent believe that strongly, up from 42 percent in Q2 2017.

Forty-four percent will move to a cheaper rental property, find a roommate to reduce costs, or move in with family if rent prices increase. Fifteen percent will consider buying a home.